Pemex reports lower Q4 petchem exports, higher imports

03 March 2009 18:58  [Source: ICIS news]

MEXICO CITY (ICIS news)--Mexico’s state-run energy-to-petrochemicals giant Petroleos Mexicanos (Pemex) said in a Wednesday conference call that its fourth-quarter petrochemical exports fell and imports rose.

Pemex Petroquimica (PPQ) exported 76,000 tonnes of petrochemicals in the fourth quarter, down 56.1% during the same quarter of 2007.

During the same period, imports rose 15.6% to 137,000 tonnes. During the last quarter of 2008, Pemex’s imports to its main trading partner, the US, declined 6.2%, its sharpest such fall in 27 years.

For the year as a whole, PPQ exported 27.7% less for a total of 540,000 tonnes. During 2008, Pemex imported 3.5% more.

In separate data released after the conference call, the firm said that PPQ had posted a net loss of Pesos(Ps)18.7bn ($1.21bn) during 2008 on net sales of Ps80.1bn. PPQ had an operating loss of Ps19.3bn.

PPQ reported around Ps54bn of sales to other parts of Pemex and Ps26bn of chemicals sales outside the company.

PPQ’s total domestic sales were Ps29.9bn during 2008, up 26% versus a year earlier. The firm sold a total of 4.1m tonnes domestically, a 3.6% increase.

($1 = Ps15.48)

To discuss issues facing the chemical industry go to ICIS connect

By: Alex Manda
+1 713 525 2653

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly